Founded in December 1987, the Macau Insurers’ Association (MIA) is a self-regulation entity with the aims to enhance and promote the insurance industry of Macau. Working under a set of common beliefs of rendering better services and of strengthening technical competence of insurers, the 18 companies then founded the MIA which has gained full recognition by the Government of Macau as a representative body of the insurance industry.

All along, the MIA has maintained a harmonious working relationship with its regulatory body, the Monetary Authority of Macau (AMCM). For the past decade, the MIA has put forth numerous recommendations on the regulatory framework laid down by the Government. It has also been diligently cultivating contacts and exchanging ideas with its international counterparts.

At present, there are 21 members in Macau, with 10 of them conducting solely life business while the remaining 11 transacting non-life insurance business.
  

The Key Objectives of the MIA are to:
The Key Objectives of the MIA are to:
 
  
1 Promote and maintain good relations among associates;
2 Liaise between associates and the Government on recommendations and
  implementation of rules and regulations pertaining to the insurance
  industry;
3

Enhance associates’ overall level of understanding of insurance

  concepts and improve the quality of services offered to the community;
4 Improve public opinion on the insurance sector;
5

Facilitate communication exchange between international entities and

  associates;
6 Deal with all other matters in the common interests of associates;


General Assembly

The General Assembly is the highest authority of the MIA. Its main role is to approve annual plans of activities and reports of the Executive Committee as well as to approve accounts of each year and budget of the following year. The General Assembly is headed by one Chairman and two vice-Chairmen who are elected to serve a term of two years.
 
Executive Committee

The Executive Committee manages affairs of the MIA in accordance with the approved plan of activities and recommendations put forth in the General Assembly, and administers the Association’s funds and assets. The Committee is formed by seven nominees, from whom one President and two Vice-Presidents are elected.
 
Supervisory Council

The Supervisory Council, formed by one Chairman and two associates, approves the accounts and reports of the Executive Committee.